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Giant Ford and Toyota investments help fuel Mexican auto industry boom
Giant Ford and Toyota investments help fuel Mexican auto industry boom

Investment in the Mexican auto industry is soaring as automakers take advantage of low labor rates, an increasingly sophisticated workforce and a plethora of free trade agreements. Ford Motor Co. said Friday that it will spend $2.5 billion to build and expand engine and transmission factories in the Mexican states of Chihuahua and Guanajuato, creating 3,800 jobs. Ford’s investment follows Toyota Motor Corp.’s announcement earlier this week that it will spend $1 billion to construct a new factory in central Mexico, where it will build Corolla compact cars. “The Mexican auto industry is coming of age,” said Mike Jackson, an analyst at IHS Automotive, an industry...

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